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Thursday, June 7, 2012

Global Economy? 23 Facts Which Prove That Globalism Is Pushing The Standard Of Living Of The Middle Class Down To Third World Levels

From now on, whenever you hear the term "the global economy" you
should immediately equate it with the destruction of the U.S. middle
class. Over the past several decades, the American economy has been
slowly but surely merged into the emerging one world economic system.
Unfortunately for the middle class, much of the rest of the world does
not have the same minimum wage laws and worker protections that we do.
Therefore, the massive global corporations that now dominate our economy
are able to pay workers in other countries slave labor wages and import
the products that they make into the United States to compete with
products made by "expensive" American workers. This has resulted in a
mass exodus of manufacturing facilities and jobs from the United States.
But without good, high paying jobs the U.S. middle class cannot
continue to be the U.S middle class. The only thing that the vast
majority of Americans have to offer in the economic marketplace is their
labor. Sadly, that labor has now been dramatically devalued. American
workers now must directly compete for jobs with millions upon millions
of workers on the other side of the world that toil away for 15 hours a
day at slave labor wages. This is causing jobs to leave the United
States at an almost unbelievable rate, and it is putting tremendous
downward pressure on the wages of millions of jobs that are still in the
United States.
So when you hear terms such as "globalization" and "the global
economy", it is important to keep in mind that those are code words for
the emerging one world economic system that is systematically wiping out
the U.S. middle class.
A one world labor pool means that the standard of living for the U.S.
middle class will continue falling toward the standard of living in the
third world.
We keep hearing about how the U.S. economy is being transformed from a
"manufacturing economy" into a "service economy". But "service jobs"
are generally much lower paying than "manufacturing jobs". The number
of good paying "middle class jobs" in the United States is rapidly
decreasing. So how can the U.S. middle class survive in such an
environment?
What makes things even worse for manufacturers in the United States
is that other nations often impose a "value-added tax" of 20 percent or
more on U.S. goods entering their shores and yet most of the time we do
not reciprocate with similar taxes.
But whenever someone mentions how incredibly unfair and unbalanced
our trade agreements with other nations are, they are immediately
labeled as a "protectionist".
Well, someone should be looking out for U.S. interests when it comes
to trade, because the current state of the global economy is ripping the
U.S. middle class to shreds.
Right now, the United States consumes far more wealth than it
produces. This nation buys much, much more from the rest of the world
than they buy from us. This is called a "trade deficit", and it is one
of the most important economic statistics. The U.S. runs a massive
trade deficit every single year, and it is wiping out our national
wealth, it is destroying our surviving industries and it is absolutely
shredding middle class America.
We cannot allow tens of thousands of factories to continue to leave
the United States. We cannot allow millions of jobs to continue to be
"outsourced" and "offshored". We cannot allow tens of billions of
dollars of our national wealth to continue to be transferred into
foreign hands every single month.
The truth is that the global economy is bad for America. The
following are 23 facts which prove that globalism is pushing the
standard of living of the middle class down to third world levels....#1 From December 2000 to December 2010, the U.S. ran a total trade deficit of 6.1 trillion dollars.#2 The U.S. trade deficit was about 33 percent larger in 2010 than it was in 2009.#3 The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.#4 The U.S. economy is rapidly trading high wage jobs for low wage jobs. According to a new report
from the National Employment Law Project, higher wage industries
accounted for 40 percent of the job losses over the past 12 months but
only 14 percent of the job growth. Lower wage industries accounted for
just 23 percent of the job losses over the past 12 months and a whopping
49 percent of the job growth.#5Between December 2000 and December 2010,
38 percent of the manufacturing jobs in Ohio were lost, 42 percent of
the manufacturing jobs in North Carolina were lost and 48 percent of the
manufacturing jobs in Michigan were lost.#6 In Germany, exports account for approximately 40
percent of GDP. In China, exports account for approximately 30 percent
of GDP. In the United States, exports account for approximately 13 percent of GDP.#7 Do you remember when the United States was the
dominant manufacturer of automobiles and trucks on the globe? Well, in
2010 the U.S. ran a trade deficit in automobiles, trucks and parts of $110 billion.#8 In 2010, South Korea exported 12 times as many automobiles, trucks and parts to us as we exported to them.#9 The U.S. economy now has 10 percent fewer "middle class jobs" than it did just ten years ago.#10 The United States currently has 7.7 millionfewer payroll jobs than it did back in December 2007.#11 Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs.#12 In 2002, the United States had a trade deficit
in "advanced technology products" of $16 billion with the rest of the
world. In 2010, that number skyrocketed to $82 billion.#13 The United States now spends more than 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.#14 In China, working conditions are so bad that
large numbers of "employees" regularly try to commit suicide. One major
employer, Foxconn, has even gone so far as to install "anti-suicide nets" in an attempt to keep their employees from jumping off of their buildings.#15 Wages for workers in China are incredibly low.
For example, one facility in the city of Longhua that makes iPods
employs approximately 200,000 workers. These workers put in endless
15-hour days but they only make about $50 per month.#16 In Bangladesh, manufacturing workers toil in absolutely horrific conditions and make an average of about $38 per month.#17 In Vietnam, teenage workers often work seven days a week for as little as 6 cents an hour making promotional Disney toys for McDonald's.#18 Since 2001, over 42,000 manufacturing facilities in the United States have been closed.#19 Half of all American workers now earn $505 or less per week.#20 In the United States today, 6.2 million Americans have been out of work for 6 months of longer.#218.4 million Americans are currently working part-time jobs for "economic reasons". These jobs are mostly very low paying service jobs.#22 When you adjust wages for inflation, middle class workers in the United States make less money today than they did back in 1971.#23 According to Willem Buiter, the chief economist at Citigroup, China will be the largest economy in the world by the year 2020, and India will surpass China by the year 2050.
Those that promote "free trade" can never explain how the U.S. middle
class is going to continue to have plenty of jobs in the new global
economy.
By merging our labor pool with the rest of the world, we have also
merged our standard of living with the rest of the world. High
unemployment is rapidly becoming "the new normal" in America, and wages
are going to continue to decline in many, many industries.
Already, there are quite a few formerly great U.S. cities (such as Detroit)
that are beginning to resemble third world hellholes. If something is
not done about our massive trade imbalance, even more cities are going
to follow Detroit into oblivion.
Unfortunately, most of our politicians continue to insist that
globalism is good for our society. They continue to insist that we
should not be worried that jobs formerly done by middle class American
workers are now being done by slave laborers on the other side of the
globe. They continue to insist that having 43 million Americans on food
stamps is a temporary thing and that soon our economy will be better
than ever.
Well, it is time to stop listening to the politicians that are promoting "the global economy". They are lying to us.
Globalism is great for nations such as China and it is helping
multinational corporations make huge profits, but for the U.S. middle
class it is an economic death sentence.
If you want an America where there are less jobs, where more
Americans are on food stamps and other anti-poverty programs and where
our cities continue to be transformed into deindustrialized hellholes,
then you should strongly support the emerging global economy.
But if you care about the standard of living of the U.S. middle class
and you want for there to be some kind of viable economic future for
your children and your grandchildren then you had better start caring
about these issues and doing something about them.
Please wake up America.